Benzinga | Jul 27, 2020 04:04PM EDT

Why Rigel Pharmaceuticals Is Moving Today

Rigel Pharmaceuticals (NASDAQ:RIGL) shares are trading higher on Monday after the company announced the publication of post-hoc data analysis of TAVALISSE in the British Journal of Haematology.

Rigel Pharmaceuticals develops small-molecule drugs for autoimmune, cancer-related, and viral diseases. The firm's lead drug is an oral rheumatoid arthritis drug candidate that has been licensed to AstraZeneca. Astra has taken over all responsibility to develop and market the drug and will pay Rigel royalties and milestone payments.

ts pipeline product includes Fostamatinib - ITP, Fostamatinib - AIHA, Fostamatinib - IgAN, BGB324 - Oral AXL Inhibitor, ATI-50001 & 50002 - JAK Inhibitors, DS-3032-MDM2 Inhibitor, THF-beta Inhibitors and AZD0449- Inhaled JAK Inhibitor.

Rigel Pharmaceuticals shares were trading at $2.83 on Monday but dropped down to close at $2.60. The stock has a 52-week range between $5.24 and $1.23.